Carsome Successfully Acquired iCar Asia Limited in a US$200 Million Deal

Acquisition of remaining 80.1% stake in iCar Asia from the Catcha Group has been finalised


Teckwai Saw

11 Feb, 2022

Carsome Successfully Acquired iCar Asia Limited in a US$200 Million Deal | BEAMSTART News

- From our Sponsors -

Malaysia-based online used car platform, Carsome has completed its acquisition of iCar Asia, an automotive listing platform in Southeast Asia.

A statement was announced by Carsome that the remaining 80.1% stake in iCar Asia has been acquired.

In July 2021, Carsome has agreed to acquire 19.9% of iCar Asia from Malaysia-based internet conglomerate, Catcha Group.

Latest Jobs

Senior Front-End Engineer

Tenjin

Full Time

USD 120000 — USD 200000 yearly

AI Engineer

Beam

New York,

Full Time

USD 100000 — USD 180000 yearly

Founding Engineer

Bloom

Zurich,

Full Time

USD 100000 — USD 150000 yearly

Founding Sales Rep

Vori

California,

Full Time

USD 120000 — USD 180000 yearly

Founding Account Executive

Oto

Full Time

USD 105000 — USD 120000 yearly

Previous Highlights

  • Carsome raised US$290 million in a Series E funding round during January 2022.
  • The company's valuation back in January 2022 was around US$1.7 billion.
  • Carsome is backed by reputable investors which include Temasek, 65 Equity Partners, SeaTown Holdings, Qatar Investment Authority, Gobi Partners, and 500 Southeast Asia.

Community Q&A

Key Takeaways from Acquisition

  • Carsome is the sole shareholder of iCar Asia.
  • With both Carsome and iCar Asia combined; it offers an integrated automotive ecosystem in a region that transacts over US$55 billion worth of automobiles yearly according to a report.
  • Carsome will be able to provide a broader solution and experience across the buying and selling value chain to more dealers and consumers in dominant markets.
  • An expanded product offering of solutions will provide consumers a seamless entire car ownership journey – from search, transaction, finance and insurance to after-sales services.

"This partnership will allow us to further expand our offerings across discovery, consideration, purchase and fulfillment, covering the entire auto ecosystem based on our core values of trust, transparency and technology," Carsome co-founder and Group CEO Eric Cheng said.

- From our Sponsors -

Latest Jobs

Founding Software Engineer (Full-Stack)

StarSling

California,

Full Time

USD 150000 — USD 190000 yearly

Sofware Engineer, AI/ML

Greenlite

California,

Full Time

Salary Undisclosed

Founding Team Member: Sales

Corgi

Illinois,

Full Time

USD 70000 — USD 150000 yearly

Product Lead - AI Platform

Vahan

Karnataka,

Full Time

USD 5000000 — USD 8000000 yearly

Senior Fullstack Engineer

Laylo

Full Time

USD 100000 — USD 175000 yearly

AI-Native Engineer (Frontend/Full-stack)

Pincites

California,

Full Time

USD 135000 — USD 185000 yearly

Product Engineer (AI)

ClaimSorted

England,

Full Time

USD 69998 — USD 150000 yearly

Founding Engineer — Medical AI Agents

Dench.com

New York,

Full Time

USD 100000 — USD 200000 yearly

Software Engineer

Agave

California,

Full Time

USD 130000 — USD 240000 yearly

Business Operations

Giga

California,

Full Time

USD 100000 — USD 130000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).